Tron plans to set up first office in India, Justin Sun reveals how company survived China’s ICO ban

Home » News » Tron plans to set up first office in India, Justin Sun reveals how company survived China’s ICO ban
July 31, 2018 by
Tron plans to set up first office in India, Justin Sun reveals how company survived China’s ICO ban

Tron has actually witnessed a series of brand-new advancements in the past few weeks. Actually, on July 30, Tron launched Tron Virtual Device and also introduced a brand-new task called Task Atlas with BitTorrent. Now, the blockchain founder Justin Sun’s next relocation is to set up an office in India, South China Morning Message reported.

Sunlight simply recently moved to his new office in Beijing and also already started making strategies of development. Presently, crypto enthusiasts in India are awaiting Supreme Court of India’s last decision on the fate of cryptocurrency exchanges in the country.

See also: TRON’s [TRX] Justin Sun stops short of revealing ‘secret project’

It is to be kept in mind that Reserve Bank of India (RBI) in April cracked the whip on cryptocurrency exchanges. They claimed that the financial institutions will certainly not be permitted to deal with exchanges, offering the banks three months’ time to exit the marketplace. The panel of courts who are overseeing the case wants arguments from both RBI and also the ban’s critics to be sent by that day after which the verdict will be made.

Justin Sun on how Tron made it through China’s ICO restriction
Nine months earlier, China initial coin offerings (ICO) fundraising and also ordered to close down regional cryptocurrency exchanges. The good news is, just before the ICO restriction entered into impact, Tron completed its ICO and also raised US$ 70 million.

See also: Tron is 80 times faster than Ethereum, Justin Sun claims

The funds accumulated from the Chinese financiers were returned after the ban was announced. “It’s [the clampdown] taken the heat off [the marketplace] It’s currently much more reasonable,” Sunlight informed South China Morning Message, “It’s far better for the sector. A lot of firms followed the ruling from the federal government. It really did not cause anything poor, if there had actually been a monetary threat after that it [the ban] would certainly have solved it.”

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